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Smart Stadium Market to Grow 30.2% CAGR to Hit $17.32 BILLION to 2021

05-11-2017 03:21 PM CET | IT, New Media & Software

Press release from: RNR Market Research

Smart Stadium Market

Smart Stadium Market

Smart stadium market size is estimated to grow from USD 4.62 billion in 2016 to USD 17.32 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 30.2%, The smart stadium market is broadly segmented on the basis of software, services, platforms, deployment models, and regions.

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The initial findings about the market depicts that by the end of the forecast period, the software market is likely to achieve a winning imperative as the vendors will be offering an integrated software capable of performing the tasks efficiently and in real time.
The digital content management would account for the largest share in the software segment owing to the rapid digitization and increased focus on sharing digital content with the users so they can avail offers and benefits; the network management software is expected to grow at the highest CAGR owing to the large number of devices that are connected to either wired or no-wired network in stadiums, which need to be identified and monitored.
The various major smart stadium vendors profiled in the report are as follows:
1. Cisco Systems, Inc. (U.S.)
2. Fujitsu (Japan)
3. GP Smart Stadium (the Netherlands)
4. Huawei Technologies Co. Ltd. (China)
5. International Business Machines Corp, (U.S.)
6. Intel Corp. (U.S.)
7. Johnson Controls (U.S.)
8. NEC Corp. (Japan)
9. Tech Mahindra Ltd. (India)
10. Volteo (U.S.)
The on-demand deployment model is expected to witness higher growth compared to on-, as well as account for the largest share in the smart stadium market as organizations are more focused on reducing operational costs while achieving with improved efficiency. Since the third-party vendors offer these services at a reduced cost and manage all the processes from deployment to maintenance, the stadium owners would be willing to prefer on-demand mode to the on-premises mode. The application management platform segment is expected to be the leading among all other platforms due to need for security policies to authenticate users and set expiration for access to data. The network management platform is expected to be the fastest-growing platform segment owing to the demand for remote management (while managing multiple geographical sites) and need to lower the management traffic.
Europe is currently the largest contributor in the smart stadium market, while Middle East and Africa is the fastest-growing region and this trend is expected to continue till 2021.

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Several smart stadium vendors are leveraging on smart technology to develop better connected stadiums for sports fans in Europe and the Middle East; for instance Vodafone will design smart stadiums for the 2022 FIFA World Cup in Qatar and Intel would work with Croke Park stadium on the Smart Stadium Project. The driving factors in the Europe, Middle East, and Africa (EMEA) region are increased adoption of digital technology and Internet of Things (IOT) and availability of adequate infrastructure for setting up of smart stadiums, along with increased spending by corporations in smart buildings to increase their efficiency.

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